GM Advisory Group LLC Buys 4,811 Shares of Tesla, Inc. $TSLA

GM Advisory Group LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 51.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,251 shares of the electric vehicle producer’s stock after purchasing an additional 4,811 shares during the quarter. GM Advisory Group LLC’s holdings in Tesla were worth $3,693,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC grew its holdings in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares during the period. Navigoe LLC purchased a new stake in Tesla in the fourth quarter worth about $37,000. Cherry Tree Wealth Management LLC grew its holdings in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank grew its holdings in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Tesla in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the business’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares of the company’s stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 599,724 shares of company stock valued at $213,126,501 in the last quarter. 20.70% of the stock is currently owned by corporate insiders.

Tesla Price Performance

Shares of TSLA opened at $329.31 on Wednesday. The firm has a market cap of $1.06 trillion, a PE ratio of 190.35, a P/E/G ratio of 11.65 and a beta of 2.33. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $321.01 and a two-hundred day simple moving average of $304.26. Tesla, Inc. has a 1-year low of $202.59 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 earnings per share. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on TSLA. Argus restated a “hold” rating on shares of Tesla in a report on Monday, June 9th. Robert W. Baird restated a “neutral” rating and issued a $320.00 price objective on shares of Tesla in a report on Monday, June 9th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, July 24th. UBS Group set a $290.00 price target on shares of Tesla in a research report on Monday, June 30th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 23rd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have given a Hold rating and nine have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $303.31.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.